GOOGL Gains 18% YTD: Can Generative AI Focus Drive the Stock?
GOOGAlphabet(GOOG) ZACKS·2024-08-29 01:56

Alphabet Inc. (GOOGL) shares have gained 17.9% in the year-to-date period, outpacing the Zacks Internet-Services industry’s growth of 16.6%. The GOOGL stock’s return is above the S&P 500’s rise of 17.8% but below the broader technology sector’s rally of 21.3% in the same time frame.Alphabet is significantly benefiting from its growing Generative AI (GenAI) capabilities, which are driving its momentum in the booming cloud computing market and the search engine space by enhancing search results.The company is ...